Grosvenor House Lymington Limited - Accounts to registrar (filleted) - small 18.2

Grosvenor House Lymington Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 04532378











Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Grosvenor House Lymington Limited

Grosvenor House Lymington Limited (Registered number: 04532378)






Contents of the Financial Statements
for the Year Ended 31 March 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grosvenor House Lymington Limited

Company Information
for the Year Ended 31 March 2019







DIRECTORS: P I H Pressland
O E Lambert





REGISTERED OFFICE: 14 Church Street
Whitchurch
Basingstoke
Hampshire
RG28 7AB





REGISTERED NUMBER: 04532378





ACCOUNTANTS: Wheeler & Co Ltd
Chartered Accountants
The Shrubbery
14 Church Street
Whitchurch
Hampshire
RG28 7AB

Grosvenor House Lymington Limited (Registered number: 04532378)

Balance Sheet
31 March 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1,300,000 1,225,000

CURRENT ASSETS
Debtors 4 10,000 -
Cash at bank and in hand 7,705 6,733
17,705 6,733
CREDITORS
Amounts falling due within one year 5 136,534 42,729
NET CURRENT LIABILITIES (118,829 ) (35,996 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,181,171

1,189,004

CREDITORS
Amounts falling due after more than one
year

6

546,584

585,941
NET ASSETS 634,587 603,063

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 7 442,428 367,428
Retained earnings 192,156 235,632
SHAREHOLDERS' FUNDS 634,587 603,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

Grosvenor House Lymington Limited (Registered number: 04532378)

Balance Sheet - continued
31 March 2019


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24 September 2019 and were signed on its behalf
by:





P I H Pressland - Director


Grosvenor House Lymington Limited (Registered number: 04532378)

Notes to the Financial Statements
for the Year Ended 31 March 2019

1. STATUTORY INFORMATION

Grosvenor House Lymington Limited is a private company, limited by shares , registered in Not specified/Other.
The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 April 2018 1,225,000
Revaluations 75,000
At 31 March 2019 1,300,000
NET BOOK VALUE
At 31 March 2019 1,300,000
At 31 March 2018 1,225,000

Grosvenor House Lymington Limited (Registered number: 04532378)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

3. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2019 is represented by:

Land and
buildings
£   
Valuation in 2017 367,428
Valuation in 2019 75,000
Cost 857,572
1,300,000

If freehold property had not been revalued it would have been included at the following historical cost:

2019 2018
£    £   
Cost 857,572 857,572

Value of land in freehold land and buildings 1,300,000 1,225,000

Freehold property was valued on an open market basis on 31 July 2019 by the directors .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other debtors 10,000 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Taxation and social security 99,834 16,729
Other creditors 36,700 26,000
136,534 42,729

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Bank loans 546,584 585,941

7. RESERVES
Revaluation
reserve
£   
At 1 April 2018 367,428
Freehold property 75,000

At 31 March 2019 442,428